Build failed while running KMM project in ios simulator ( Could not resolve com.android.tools.build:gradle:7.4.0 )

Question

today i have created KMM project with latest android android studio version (Android Studio Electric Eel | 2022.1.1 Patch 1) but when running this project on ios simulator it throws the below exception while in android device it's working fine.

* What went wrong:
A problem occurred configuring root project 'kmm_project'.
> Could not resolve all files for configuration ':classpath'.
   > Could not resolve com.android.tools.build:gradle:7.4.0.
     Required by:
         project : > com.android.application:com.android.application.gradle.plugin:7.4.0
         project : > com.android.library:com.android.library.gradle.plugin:7.4.0
      > No matching variant of com.android.tools.build:gradle:7.4.0 was found. The consumer was configured to find a runtime of a library compatible with Java 8, packaged as a jar, and its dependencies declared externally, as well as attribute 'org.gradle.plugin.api-version' with value '7.5' but:
          - Variant 'apiElements' capability com.android.tools.build:gradle:7.4.0 declares a library, packaged as a jar, and its dependencies declared externally:
              - Incompatible because this component declares an API of a component compatible with Java 11 and the consumer needed a runtime of a component compatible with Java 8
              - Other compatible attribute:
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.5')
          - Variant 'javadocElements' capability com.android.tools.build:gradle:7.4.0 declares a runtime of a component, and its dependencies declared externally:
              - Incompatible because this component declares documentation and the consumer needed a library
              - Other compatible attributes:
                  - Doesn't say anything about its target Java version (required compatibility with Java 8)
                  - Doesn't say anything about its elements (required them packaged as a jar)
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.5')
          - Variant 'runtimeElements' capability com.android.tools.build:gradle:7.4.0 declares a runtime of a library, packaged as a jar, and its dependencies declared externally:
              - Incompatible because this component declares a component compatible with Java 11 and the consumer needed a component compatible with Java 8
              - Other compatible attribute:
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.5')
          - Variant 'sourcesElements' capability com.android.tools.build:gradle:7.4.0 declares a runtime of a component, and its dependencies declared externally:
              - Incompatible because this component declares documentation and the consumer needed a library
              - Other compatible attributes:
                  - Doesn't say anything about its target Java version (required compatibility with Java 8)
                  - Doesn't say anything about its elements (required them packaged as a jar)
                  - Doesn't say anything about org.gradle.plugin.api-version (required '7.5')

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* Get more help at https://help.gradle.org

BUILD FAILED in 4s
Command PhaseScriptExecution failed with a nonzero exit code

** BUILD FAILED **


The following build commands failed:
    PhaseScriptExecution Run\ Script /Users/jayantkumar/Documents/android_studio/kmmproject/build/ios/iosApp.build/Debug-iphonesimulator/iosApp.build/Script-7555FFB5242A651A00829871.sh (in target 'iosApp' from project 'iosApp')
(1 failure)

My build.gradle(project)

plugins {
    //trick: for the same plugin versions in all sub-modules
    id("com.android.application").version("7.4.0").apply(false)
    id("com.android.library").version("7.4.0").apply(false)
    kotlin("android").version("1.7.10").apply(false)
    kotlin("multiplatform").version("1.7.20").apply(false)
}

tasks.register("clean", Delete::class) {
    delete(rootProject.buildDir)
}

My build.gradle(module) file

plugins {
    id("com.android.application")
    kotlin("android")
}

android {
    namespace = "com.nameisjayant.kmmproject.android"
    compileSdk = 33
    defaultConfig {
        applicationId = "com.nameisjayant.kmmproject.android"
        minSdk = 24
        targetSdk = 33
        versionCode = 1
        versionName = "1.0"
    }
    buildFeatures {
        compose = true
    }
    composeOptions {
        kotlinCompilerExtensionVersion = "1.3.2"
    }
    packagingOptions {
        resources {
            excludes += "/META-INF/{AL2.0,LGPL2.1}"
        }
    }
    buildTypes {
        getByName("release") {
            isMinifyEnabled = false
        }
    }
    compileOptions {
        sourceCompatibility = JavaVersion.VERSION_11
        targetCompatibility = JavaVersion.VERSION_11
    }

}

dependencies {
    implementation(project(":shared"))
    implementation("androidx.compose.ui:ui:1.3.3")
    implementation("androidx.compose.ui:ui-tooling:1.3.3")
    implementation("androidx.compose.ui:ui-tooling-preview:1.3.3")
    implementation("androidx.compose.foundation:foundation:1.3.1")
    implementation("androidx.compose.material:material:1.3.1")
    implementation("androidx.activity:activity-compose:1.6.1")
}

My gradle-wrapper.properties file

distributionBase=GRADLE_USER_HOME
distributionUrl=https\://services.gradle.org/distributions/gradle-7.5-bin.zip
distributionPath=wrapper/dists
zipStorePath=wrapper/dists
zipStoreBase=GRADLE_USER_HOME

As i already selected the Java 11 version?

If anyone have any idea about this please let me know , Thanks :)